8-K
filed February 8, 2024, 6:59 PM ET
ticker AXTA
CIK 0001616862
earnings
confidence high
sentiment positive
materiality 0.85
Axalta Q4 adjusted EBITDA $251M (+21% YoY); FY 2024 guidance above consensus
Axalta Coating Systems Ltd.
2023-FY EPS reported
$1.21
revenue$5,184,100,000
- Q4 net sales $1.3B (+4.9% YoY); net income $74M (+68% YoY); adjusted EPS $0.43 vs $0.38.
- Full-year net sales $5.2B (+6.1%); adjusted EBITDA $951M (+17%); adjusted EPS $1.57 vs $1.48.
- FY 2024 guidance: adjusted EBITDA $1,010-1,050M; adjusted EPS $1.80-1.95; free cash flow $400-450M.
- Net leverage ratio ended at 2.9x, lowest in company history; paid down $55M term loan in Q4.
- Acquired Andrè Koch AG in Performance Coatings segment in October 2023.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.99
Axalta Coating Systems Ltd. reported fourth quarter and year ended December 31, 2023 results: revenue $1.3 billion, net income $74 million, EPS $0.33.
- Period
- fourth quarter and year ended December 31, 2023
- Revenue
- $1.3 billion
- Net income
- $74 million
- EPS
- $0.33
- Result
- reported results
Exact text from the filing
Net sales increased 4.9% year-over-year to $1.3 billion
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.99
Axalta Coating Systems Ltd. reported fourth quarter ended December 31, 2023 results: EPS adjusted diluted earnings per share improved by 13% to $0.43.
- Period
- fourth quarter ended December 31, 2023
- EPS
- adjusted diluted earnings per share improved by 13% to $0.43
- Result
- reported results
Exact text from the filing
adjusted diluted earnings per share improved by 13% to $0.43 compared to $0.38 in the same period last year
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.99
Axalta Coating Systems Ltd. reported full year ended December 31, 2023 results: EPS adjusted diluted earnings per share for 2023 improved by 6% to $1.57.
- Period
- full year ended December 31, 2023
- EPS
- adjusted diluted earnings per share for 2023 improved by 6% to $1.57
- Result
- reported results
Exact text from the filing
Full year 2023 net sales increased 6.1% year-over-year (5.6% excluding foreign currency translation) to $5.2 billion.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.99
Axalta Coating Systems Ltd. reported full year ended December 31, 2023 results: EPS adjusted diluted earnings per share for 2023 improved by 6% to $1.57.
- Period
- full year ended December 31, 2023
- EPS
- adjusted diluted earnings per share for 2023 improved by 6% to $1.57
- Result
- reported results
Exact text from the filing
adjusted diluted earnings per share for 2023 improved by 6% to $1.57 compared to $1.48.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.98
Axalta Coating Systems Ltd. updated its first quarter 2024 guidance (initiated).
- Period
- first quarter 2024
- Guidance
- initiated
- Result
- guidance update
Exact text from the filing
First Quarter 2024 Outlook: • Net Sales: Flat Year-Over-Year • Adjusted EBITDA: ~$240 million • Adjusted Diluted EPS: ~$0.40
View on SEC.gov
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